BUFFALO, N.Y. — The journey of opening and maintaining a small business is fraught with challenges, and a recent survey indicates that uncertainty among small business owners has reached unprecedented levels.
“We’ve witnessed a lot. Some experiences are impossible to forget,” remarked Casey Casas, co-founder of Mister Sizzle’s. “There have been numerous changes.”
Since launching their restaurant in 2021, Casas and her husband, seasoned professionals in the industry, have encountered unique obstacles. “I thought I understood the business. I was mistaken,” she reflected on their experiences.
Determined to transform the perception of restaurant work as a dead-end job, Casas emphasized the potential for financial success and growth within the industry. “This is a career you can pursue for a lifetime, offering financial stability, benefits, and opportunities for advancement,” she said.
However, achieving this goal requires both time and financial resources. “Small business owners are currently hesitant to make long-term decisions, choosing instead to weather the current climate,” noted Ashley Ranslow, the New York State director for the National Federation of Independent Business (NFIB).
A survey conducted by the NFIB in September 2024 revealed alarming levels of uncertainty among small business owners. Inventory growth has slowed to its lowest rate since 2020, with approximately one-third reporting unfilled job openings and a quarter citing inflation as a persistent concern.
“They may hold off on any expansion or investment in their businesses, which ultimately impacts the state’s economy and local communities,” Ranslow stated.
While the upcoming presidential elections typically influence business sentiment, it remains unclear how much this uncertainty will shift post-election. Ranslow emphasized the difficulties of operating in New York, stating, “We need to ensure that we don’t implement policies that complicate running a small business further.”
Casas shared insights into their wage increases, highlighting a significant rise in salaries within their kitchen staff. “We’ve increased salaries by an astounding percentage—approximately 70% to 80% higher than what we started with on opening day,” she noted.
Despite the ongoing challenges, Casas is doing everything possible to sustain their operations. “We have expanded,” she said, proudly announcing the opening of a new location on One Buffalo Street in Hamburg just yesterday.
Though the future remains uncertain, Casas is committed to maintaining high standards and hopes for continued community support for local businesses. “It’s tough, you know? The pressure on small business owners is immense. We’re all in this together,” she said.
The uncertainty levels are just one component of the overall optimism index, which showed a slight uptick in September. However, the figures from the past three years still fall short of the previous 50-year average, underscoring the challenges facing small businesses today.
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